H.C. Wainwright positive on second booster results for VLA15

H.C. Wainwright says Valneva (VALN) and Pfizer (PFE) announced positive immunogenicity and safety data from the randomized, observer-blind, placebo-controlled Phase 2 VLA15-221 study following a second booster vaccination of VLA15 administered one year after the first booster dose. The firm anticipates a launch of VLA15 in 2027 with sales of EUR 286.8MM, generating EUR 45.9M in royalty revenue for Valneva that drops to the bottom line. It estimates the global market opportunity for Lyme disease is well over $1B. The analyst reiterates a Buy rating on Valneva with a $26 price target.